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1089 Pampas Circle Corona, CA 92881

4 Beds 3 Baths 2,888 sqft Built 1996

$849,999

List Price

$3,180

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $294.32
  • 2 Days on Market
  • MLS # : CV21152141
  • Updated Date : 07/12/2021 at 17:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,888 sqft
  • Baths : 3 full
Listing Agent

Century 21 King

Listing Agent's Description

This is a absolutely stunning home in a great neighborhood in Corona! The house features 4 bedrooms, one downstairs and three upstairs. The Master Bathroom has a large double sink and a separate shower and bathtub. The kitchen has a large island and has had many upgrades. The living room has large windows overlooking the pool in the backyard and a beautiful view of the mountains and neighborhood. This home was been very well maintained and shows pride in ownership. Its located within a great school district and close to many great shopping centers. You don’t want to miss out.

SEE MORE

MARKET HIGHLIGHTS

  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
  • Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
  • As part of Southern California area, Inland Empire market inherits all the benefits from the area.
  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Corona Vista

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $149k730k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Corona Vista

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2120014001600180020002200240026002800Rent in $10822882

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Citrus Hills Intermediate School Middle Regular 1,160 46 6
Santiago High School High Regular 3,692 129 8
Citrus Hills Intermediate School Middle Unknown NA

Citrus Hills Intermediate School

  • Education Level: Middle
  • # of students: 1,160
  • # of teachers: 46
6
GreatSchools Rating

Santiago High School

  • Education Level: High
  • # of students: 3,692
  • # of teachers: 129
8
GreatSchools Rating

Citrus Hills Intermediate School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$764,999$934,999$849,999

PURCHASE PRICE

$2,862$3,498$3,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,180
EXPENSES Loan Payment -$2,952
Property Tax -$927
Property Insurance -$97
Property Management Fees -$188
CASH FLOW
-$984

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$849,999

PROJECTED PRICE

$3,180

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 3.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$231,000

INVESTMENT

$231,000

Down Payment
$212,500
Rehab Estimate
$5,750
Closing Costs
$12,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,952

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $212,500
Loan Amount $637,499
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$975

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $3,180

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $3,271

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9003$2,9504$3,1805$3,500
$3,500
RENT COMPS ANALYSIS
  • 1089 Pampas Circle Corona, CA 4
    • 4 beds 3 baths ∙ 2,888 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,888 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $3,180
    • $1.10
    •  
  • 3757 Nelson Street Corona, CA 1
    • 5 beds 3 baths ∙ 2,555 Sqft ∙ Built 2012 5 beds 3 baths ∙ 2,555 Sqft ∙ Built 2012
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.10
    •  
  • 3255 Bighorn Circle Corona, CA 2
    • 4 beds 3 baths ∙ 2,575 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,575 Sqft ∙ Built 1997
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.13
    •  
  • 2519 Gilbert Avenue Corona, CA 3
    • 4 beds 2 baths ∙ 2,764 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,764 Sqft ∙ Built 2000
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.07
    •  
  • 3090 Tarocco Drive Corona, CA 5
    • 4 beds 3 baths ∙ 2,835 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,835 Sqft ∙ Built 1997
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.23
    •  
PROPERTY LISTING DETAILS
Austin Dossey
Century 21 King
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21152141
Last Updated: 07/12/2021
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